Customer Service in Banking

Paper Summary:

From both the management's and the customer's point of view, customer service is a component of a business that is needed by both the deliverer and the user. The paper discusses the concept of customer service and how this concept changes in a global environment, taking the international banking industry as an example. The paper shows that a bank in the US would have to operate differently in China, as it would have to be more attune to the needs of the Chinese consumers rather than the American customers, even though its base and corporate governance is American. The paper discusses Christopher Earley and Miriam Erez's book "The Transplanted Executive" which explores the issue. The paper also shows how most banking organizations base their plans and strategies on three tiers: Coordination Tier, Boundary Tier and Customer Tier.

From the Paper:

"According to Schneider and Bowen [1995] in a service oriented organization, customers are the foundation for the business. Without them there is no business, therefore the main aim of the organization has to focus on servicing them, catering to their needs and meeting their expectations. For every organization and depending on the service that it provides, there are certain expectations and criteria that customers judge them. For example in the banking industry it is about in-depth knowledge of the industry, the monetary environment, the kind of services available as products and the speed at which the service is being delivered. Some of the common features that customers expect are security, trust and fairness in dealings, which is what service excellence is all about."

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